Number of homes listed for sale dropped in December

The number of homes listed for sale in many metropolitan areas dropped
in December, but the decline was not as steep as it usually is over the
holidays. The supply of homes for sale in 29 metropolitan areas was
down 6.4 percent from November, according to California-based brokerage
firm ZipRealty. Over the past quarter-century, the drop between
November and December has averaged 11 percent. About 4.2 million
previously occupied homes were listed for sale at the end of November,
an inventory that could last about 11 months.